August to year end: Pork price sees large swings

In August, the price of pork increased 46.7 percent year-on-year, raising the consumer price index by 1.08 percentage points.

In October, pork prices rose 101.3 percent year-on-year, contributing nearly two-thirds of the CPI growth over the same period.

The national pork price slumped by 23 percent in November compared to late October, statistics from the Ministry of Agriculture and Rural Affairs showed.

Pork prices have risen due to three major reasons. First, the culling of pigs to prevent the spread of African swine fever seriously reduced pig stock. Second, the country was at the low level of the pig production cycle. Third, some inappropriate local administrative interventions have had a negative impact on pig breeding.

The price drops come as the government has taken multiple measures to boost supply, including measures to restore hog production.

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